Terry Gou, Chairman of Foxconn said, "World’s largest electronic contract will be handed over to a new committee because he is preparing for Taiwan President in next year elections. Last week, it is clear that more executive will be involved in the daily routine of Foxconn Company.
In April, Gou told Reporters that, "He is going to plan to step down from his post in Foxconn Company”.
Liu Young is the new chosen chairman of Apple Inc Supplier Foxconn. He is going to handle all the Foxconn business. In the general meeting of AGM in Taipei, Gou said, "I will hand over my running company to the new nine-member committee”.
But Gou retained seat is formally known as Hon Hai Precision Industry Co Ltd on the board of the company.
Foxconn is the biggest china's factory with large U.S Clients. The company had no plan to increase its production outside the country of China. Now Apple has asked it every supplier that assesses the total cost implications.